Nano-X Imaging (NASDAQ:NNOX) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Nano-X Imaging (NASDAQ:NNOX – Get Rating) posted its earnings results on Monday. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.13, MarketWatch Earnings reports. The firm had revenue of $2.45 million for the quarter. Nano-X Imaging had a negative return on equity of 39.35% and a negative net margin of 1,034.37%. During the same quarter in the prior year, the business earned ($0.41) earnings per share.

Nano-X Imaging Price Performance

NASDAQ NNOX traded up $1.51 on Wednesday, reaching $19.90. 1,020,153 shares of the stock traded hands, compared to its average volume of 1,513,577. The firm’s fifty day simple moving average is $9.56 and its 200 day simple moving average is $9.19. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -11.03 and a beta of 1.82. Nano-X Imaging has a 12 month low of $5.31 and a 12 month high of $21.50.

Institutional Investors Weigh In On Nano-X Imaging

Large investors have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in shares of Nano-X Imaging during the 2nd quarter worth $142,000. The Manufacturers Life Insurance Company boosted its stake in shares of Nano-X Imaging by 9.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,339 shares of the company’s stock worth $128,000 after acquiring an additional 1,451 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Nano-X Imaging by 89.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 13,131 shares of the company’s stock worth $97,000 after acquiring an additional 6,203 shares in the last quarter. Barclays PLC boosted its stake in shares of Nano-X Imaging by 526.5% during the 4th quarter. Barclays PLC now owns 12,310 shares of the company’s stock worth $91,000 after acquiring an additional 10,345 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Nano-X Imaging during the 4th quarter worth $88,000. 17.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald increased their price target on Nano-X Imaging from $21.00 to $30.00 in a research note on Wednesday.

Nano-X Imaging Company Profile

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Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.